As central banks around the world explore and test the uses, viability, and needs for a central bank digital currency, they are increasingly turning to distributed ledger technologies (DLTs).
DLTs hosted by LF Decentralized Trust, which are built in the open with vendor-neutral governance, are widely deployed in production networks in other sectors. They are proven technologies with strong community support.
CBDC projects and experimentations with LF Decentralized Trust tech around the world
- Australia: Project Acacia
Project Acacia will focus on understanding how ledger arrangements and concepts such as ‘programmability’ and ‘atomic settlements’ in tokenized markets could benefit Australia’s financial system and economy. Future phases could involve cross-border applications with regional central banks.
- Brazil: Piloto Drex
The pilot aims to enhance financial market efficiency and promote inclusion by enabling regulated intermediaries to offer tokenized services to the public. Drex will be implemented at the retail level through these intermediaries to support new financial products and broaden access.
- Cambodia: Bakong
Bakong enables users to transfer and receive digital funds via smartphones without traditional bank accounts and has grown to more than ten million wallets in the population of 17 million. In 2024, Bakong digital payment system saw major growth, processing 175.3 million transactions worth USD 54.8 billion. Transactions grew by over 130% year-over-year, with total volume surpassing 300% of Cambodia’s GDP.
- France: DL3S
DL3S is one of three Eurosystem interoperability solutions and is built on Hyperledger Fabric. It enables secure and efficient tokenized cash settlements and interoperability with securities DLTs through mechanisms like Hashed Timelock Contracts (HTLCs).
- Germany: Trigger Solution
The Trigger Solution, developed by the Deutsche Bundesbank, enables settlement of DLT-based wholesale financial transactions in central bank money. As a technical bridge between distributed ledger platforms and the Eurosystem’s TARGET services, it allows secure, synchronized settlement of tokenized assets with cash movements — without issuing a tokenized central bank currency.
For more project details, please refer to the report.